The euro ended this week posting a weekly drop versus most of the main currencies as the financial situation in several Eurozone member countries is damping demand for the single currency, after a sense of instability became predominant in the economic bloc. The European single currency ended this week with a negative performance versus the U.S. dollar and the Japanese yen as concerns that Greece’s budget deficit will deteriorate even further confidence in the Eurozone, as other … “Euro Touches Record Low After Weekly Drop”
Month: February 2010
Russian Ruble Falls on Oil Downmarket
The Russian ruble had its worst weekly performance in 2010 as demand for the crude oil declined specially in Europe, as uncertainty regarding some EU members budget deficits plagued markets and rose pessimism among traders in the region. The ruble posted a third consecutive day of losses versus the dollar as the crude oil continued to be affected by a fall in risk appetite that influenced commodity markets, forcing the Russian currency down as traders are more … “Russian Ruble Falls on Oil Downmarket”
Chilean Peso Beats Risk Aversion on GDP Growth
The Chilean peso was the best performing currency among the commodity-linked ones in foreign-exchange markets this Friday as a positive economic report in the South American nation allowed the peso to gain versus multiple main currencies including the U.S. dollar, despite strong risk version in trading markets today. After a report published today indicating that the Chilean economy expanded almost 4 percent in December compared to the same month one year earlier, … “Chilean Peso Beats Risk Aversion on GDP Growth”
Pound Declines on Asset Purchase Speculations
The pound posted a weekly decline versus multiple important currencies of its trading partners as a strong sentiment of risk aversion towards assets in Europe made traders to opt for refuge currencies overseas, as the British economic outlook is far from positive. The pound was affected this week by a new wave of uncertainty regarding BOE’s monetary policy, which, even if it has paused it’s quantitative measures used to help the British … “Pound Declines on Asset Purchase Speculations”
Unemployment Decline Boosts Greenback Rally
The dollar ended this week’s session posting a weekly advance versus most of the 16 main traded currencies in foreign-exchange markets as an unemployment report published this Friday brought more positive figures that are providing support for the greenback’s bullish pattern. The dollar repeated last week’s advance versus several currency and benefited from a risk averse scenario in which traders opted to protect their portfolios investing in the safety provided by the greenback. … “Unemployment Decline Boosts Greenback Rally”
Dollar Emerges as the Winner Out of the Confusing NFP
American job figures came out very confusing. After some choppy trading, the market focuses on the bright side of the data and the dollar continues to rally. Note: This was initially written at 14:15 GMT. I’ll update this post as events unfold. Non-Farm Payrolls didn’t deliver a positive number. The US job market lost 20,000 … “Dollar Emerges as the Winner Out of the Confusing NFP”
Mexican Peso Falls on Adverse Trading Scenario
The trading scenario this Thursday was entirely against the Mexican currency, which faced worse-than-expected data coming from the U.S., its main trading partner, and a strong sentiment of pessimism as European public accounts are deteriorating. After a U.S. employment showed an increase in new jobless claims beyond forecasts, the Mexican peso fell for another day, as the crude oil, one of its main exports, fell after market sentiment deteriorated globally, … “Mexican Peso Falls on Adverse Trading Scenario”
Canada’s Dollar Weakens on Pessimistic Markets
The Canadian dollar touched a new record low for 2010 versus its U.S. counterpart as a massive wave of risk aversion irradiating from Europe caused commodities and equities markets to decline worldwide. The loonie was once again affected by pessimism in trading markets globally, as Europe’s budget deficit brought risk aversion back to markets with strong influence in the loonie rates, specially those of energetic commodities and stocks in North America. As appetite for riskier … “Canada’s Dollar Weakens on Pessimistic Markets”
Pound Falls Sharply on BOE Statements
The pound declined today versus multiple important currencies after U.K.’s central bankers stated that quantitative measures may be resumed in the country if the economic conditions fail to improve, adding to the negative sentiment in European markets today. The pound fell versus the U.S. dollar and the Japanese yen as risk aversion gained strength today in Europe as several important economies in the region are struggling to adjust their national budgets, decreasing appetite … “Pound Falls Sharply on BOE Statements”
Eurozone Members’ Budget Struggle Affects Currency
The euro declined today versus virtually all of 16 main traded currencies as European Central Bank officials stressed on the economic difficulties faced by multiple countries using the single currency, declining appetite for traders to purchase assets in the region. The growing budget deficits in southern European nations using the euro are influencing the currency’s rate on an exponential scale as concerns regarding the economic future of countries like Greece, Portugal and Spain are shunning investors … “Eurozone Members’ Budget Struggle Affects Currency”